Roku (NASDAQ:ROKU) Trading Down 1.4% - Time to Sell?

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) dropped 1.4% on Monday . The company traded as low as $69.11 and last traded at $70.35. Approximately 591,846 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,766,268 shares. The stock had previously closed at $71.37.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. FBN Securities started coverage on shares of Roku in a report on Friday, March 28th. They set an "outperform" rating and a $93.00 target price on the stock. Rosenblatt Securities cut their price objective on Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Redburn Atlantic upgraded Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a report on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Roku from $115.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group upgraded Roku from an "underperform" rating to a "hold" rating and upped their price target for the stock from $55.00 to $100.00 in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $87.93.

Roku Stock Down 1.1%

The stock has a fifty day moving average of $66.06 and a 200-day moving average of $74.48. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of -77.54 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the company earned ($0.35) earnings per share. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In related news, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now owns 7,380 shares in the company, valued at $577,485. This trade represents a 49.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of Roku stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. This trade represents a 42.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,100 shares of company stock valued at $1,164,215 over the last ninety days. Insiders own 13.98% of the company's stock.

Institutional Investors Weigh In On Roku

Several large investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its position in Roku by 456.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company's stock valued at $134,222,000 after purchasing an additional 1,563,449 shares during the last quarter. Focus Partners Wealth acquired a new position in Roku in the first quarter valued at $229,000. Plato Investment Management Ltd increased its stake in Roku by 217.4% in the first quarter. Plato Investment Management Ltd now owns 9,663 shares of the company's stock valued at $688,000 after purchasing an additional 6,619 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Roku in the first quarter valued at about $398,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Roku by 15.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 610,868 shares of the company's stock valued at $43,030,000 after buying an additional 83,677 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.